Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. mr sultan decide to start a business of job consul

Mr Sultan decide to start a business of Job Consultancy Service that named as Global...

50.1K

Verified Solution

Question

Accounting

image

Mr Sultan decide to start a business of Job Consultancy Service that named as Global business. On 1st January 2021, he invested OMR 25,000 cash in the business. 3rd January. The business purchased computer for OR. 7,000 cash. 10th January. The business performed a service to a customer and receives OR. 2,000 cash 15th January. The business received a bill for OR 500 from the Advertising Agency for advertising on its website but the business postpones payment until a later date 24th January. The company paid an amount of cash of OMR 200 for Internet expenses 30th January. Mr Sultan withdraw cash of OMR 400 from the business for his personal use. You are required to show the effect of above transactions on accounting equation and prove the accounting equation at the end. (Marks 3)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Find the 80%, 95%, and 99% confidence intervals & margin error Create your own confidence interval (you...

Statistics
Q

Consider the following all-integer linear program: Max 5x1 +8x2 s.t.   6x1 + 5x2 <= 30 9x1 + 4x2 <=...

Advance Math
Q

Pyramid A has a volume of 10 cubic units a height of 5 units and...

Geometry
Q

1. Determine the future value of the following single amounts (FV of $1,...

Accounting
Q

Satterlee Co. produces 11,000 scanners per week. If 1.6% of these are defective, how many...

Accounting
Q

Diggens Inc. makes eveningwear for men and women. The following information was gathered from the...

Accounting
Q

2 5 9 10 Bridgeport Hardware Store Inc. completed the following merchandising transactions in the...

Accounting
Q

Brepuired Accounting records Brepuired Accounting records

Accounting
Q

Patel and Sons Inc. uses a standard cost system to apply factory overhead costs to...

Accounting
Q

MALAYSIAN TAX 2020. Compute the chargeable income and tax payable of En. Aziz for the...

Accounting
Q

The Vernon Company buys apples from local orchards and presses them to produce apple juice....

Accounting
Q

1. Assume the Australian dollar is equal to $.44 and the Thai baht is equal...

Finance